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An entity with ties to a local medical developer is the new owner of a former gas station in Ocoee.

Orlando-based Jamison Commercial Partners‘ related Ocoee Medical Development on Nov. 1 bought a roughly 1,500-square-foot fuel station at 11001 W. Colonial Drive for $1.65 million from Brandon-based Starfish Properties LLC, Orange County records showed. The 0.61-acre site includes a 936-square-foot convenience store and 576-square-foot car wash, county records showed.

Future plans for the site include demolishing the gas station and building in its place a 7,232-square-foot, single-story medical office building for Altamonte Springs-based nonprofit health system AdventHealth, per city of Ocoee permits. City staff is waiting for the developer to revamp and submit updated plans based on recommendations from the development review committee, said an October meeting agenda.

The submarket is sought after for medical office space because of its proximity to AdventHealth’s existing medical facilities in Winter Garden and Apopka, as well as Orlando Health’s hospitals in Ocoee and west Orange County’s Horizon West neighborhood. It is also about 1.5 miles away from Orlando Health Health Central Hospital.

 

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IMC Equity Group acquired Palm Springs Medical, a medical office building in Hialeah, for $14.75 million.

Cofe Fund 1-Palm Springs LLC, managed by Cofe Properties in Miami, sold the 7-story, 76,280-square-foot medical office at 1840 W. 49th St. to North Miami-based IMC Equity Group, led by CEO Yoram Izhak. The deal was brokered by Douglas K. Mandel and Ryan Fellman of the Institutional Property Advisors group at Marcus & Millichap. The price equated to $193 a square foot.

The building last traded for $4 million in 2011, when Cofe Properties bought it from a bank that had foreclosed on it earlier.

Carlos Segrera, chief investment officer of IMC Equity Group, said they chose to invest in the 49th Street corridor in Hialeah because many nearby properties have strong occupancy rates. The deal was at a 7% capitalization rate and the building was 12% vacant.

 

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2700 Hollywood Blvd.

The 26,884-square-foot office at 2700 Hollywood Blvd. was sold for $12.3 million by 2700 Hollywood Blvd LLC.

Ruben Salama, who is also the practice administrator at Elite Plastic Surgery, manages the LLC. Elite Plastic Surgery is based in the building, along with several other health care providers.

The buyer was Rajen Hollywood LLC, managed by commercial real estate investor Arnold S. Wax in Aventura. Coral Gables-based Banesco USA awarded a $6.77 million mortgage to the buyer.

The price equated to $457 a square foot, nearly doubling its 2017 sale price of $6.3 million.

 

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A planned new 9,840-square-foot medical office space is in the works near the southwest corner of Red Bug Lake Road and Goldeneye Point in Oviedo.

CWS-Oviedo Development LLC, the owner of the 1.86-acre property at 7157 Red Bug Lake Road, is led by Carl Sahlsten, a former senior executive of the Carrabba’s Italian Grill Inc. restaurant chain. Kimley-Horn & Associates Inc. was the applicant on the plans.

In 2007, the firm built the infrastructure and developed four pads on the site at the southeast corner of Red Bug Lake and Mikler roads, as Orlando Business Journal previously reported. Two of the pads include a Romano’s Macaroni Grill and a Rock & Brews restaurant, while another pad is vacant. The pads are surrounded by existing parking.

 

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Medical network University of Florida Health will expand its reach in Marion County with a recent land purchase in the Summerfield community at the southern edge of the county near The Villages.

A deed shows the transaction took place on Oct. 7 between Novia Group, LLC and Shands Teaching Hospital and Clinics, Inc.

Three separate parcels make up the 26.92 acres of land listed under address 14950 S. Highway 441 on realtor.com.

UF Health paid around $2.21 million for the property west of U.S. Highway 441 but has not disclosed plans for development.

 

Source:  Ocala StarBanner

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OHC Advisors has proposed an assisted living facility in south Miami-Dade County, near Pinecrest and Kendall.

The Miami-based company, through affiliate 11405 SW 82 Ave LLC, filed a pre-application and zoning hearing with county officials for the 3.82-acre site at 11405 S.W. 82nd Ave. and 7990 S.W. 112nd St./Killian Drive. It purchased the vacant property for $3.5 million in July.

It wants to rezone the residential site to allow 154 assisted living beds. Michael Baldwin, the president of OHC Advisors, said there would be about seven two-story buildings. This would be a luxury, residential-style assisted living facility, not a “large boxy building” with all the residents housed together.

It will be called Killian Gardens.

 

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hialeah medical plaza

Franklin Street arranged the sale Hialeah Medical Plaza, a two-story commercial building featuring 41,000 square feet of retail and office space at 3750 W. 16 Ave. in Hialeah.

KEI Acquisitions, LLC acquired the site from RG Property Group Holdings LLC for $7.65 million.

Adam J. Tiktin and Greg Matus, of Franklin Street’s Florida Investment Sales Team, represented the buyer in this transaction.

The deal closed on Sept. 23rd.

Originally constructed in 1981 and situated on 1.19 acres, Hialeah Medical is 98 percent occupied by 29 medical-based businesses and retailers, including Proactive Health Corp, Tropical Medical Center, New Life Medical Research, Green Cross Clinic, Belen Therapy Medical Center and Benjamin Meat Store, among others.

The property features strong fundamentals including easy access, sufficient parking and an excellent location. Located in the heart of Hialeah along West 16th Avenue at the corner of West 37th Street, Hialeah Medical Plaza offers excellent visibility with traffic counts of approximately 31,000 vehicles per day. The site is adjacent to Lowe’s and Target, and further benefits from its close proximity to Westland Mall and the Palmetto Expressway.

 

Gomez Development Group will build a medical office at 21291 N.E. 28th Ave. in Aventura

Gomez Development Group obtained a $45 million construction loan to build a medical office complex in Aventura, not far from Aventura Hospital and Medical Center.

Marlon Gomez, head of the Miami-based developer, said his Aventura Eco Offices Property Owner LLC obtained the loan from ParkView Financial in California. The LLC recently took ownership of the 1.63-acre site at 21291 N.E. 28th Ave. through an entity transfer with Aventura Medical Center.

The site was listed for sale in 2019. It’s within a federal opportunity zone, which allows investors to defer their federal capital gains tax.

Gomez plans to break ground in early 2022 with a seven-story, 263,371-square-foot medical office building and complete the project in the first quarter of 2023.

 

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HCA Oviedo Land Purchase

An HCA Healthcare Inc. entity on Oct. 22 bought some vacant property near AdventHealth‘s corporate headquarters.

The Nashville, Tennessee-based health system’s Oviedo Medical Center LLC bought 14.67 vacant acres on Forest City Road from an entity tied to Orlando-based MMI DevelopmentMaitland West LLLP — on Oct. 22 for $15.5 million, according to Orange County property records. Executives with HCA Healthcare and MMI Development were not available for comment.

The property is at the southeast corner of State Road 414 and Forrest City Road abutting the Orange/Seminole county line. Of note, the site is across State Road 414 from AdventHealth’s corporate headquarters at 900 Hope Way in Seminole County.

HCA does not have a hospital or freestanding emergency room facilities in that area near the site at this time.

 

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3702 Washington Street

Forte Capital Management bought a Hollywood medical office building adjacent to Memorial Regional Hospital South for $11 million.

The Miami Beach-based company purchased the property at 3702 Washington Street, according to Chaim Cahane, president of Forte.

A group of five doctors, including at least three with offices at the property, sold the building through an affiliate, records show. That entity bought the building in 2004 for $4.4 million.

The 43,606-square-foot building, constructed in 1995, spans nearly half an acre, according to property records.

The four-story building is 92 percent leased, said Cahane, who worked with Forte’s Dov Tepper to close the off-market deal.

The real estate investment firm plans roughly $250,000 in improvements to the vacant spaces, common areas and building exterior, allowing rent increases. Rents now are 40 percent below market rate, Cahane said.

The medical office market has proved buoyant amid the pandemic. Florida continues to be a magnet for retirees, many of whom require medical care. The Hollywood medical office building connects through a pedestrian overpass to the hospital.

 

Source:  The Real Deal